Score
FXPOINT
Saint Vincent and the Grenadines|2-5 years| https://www.fxpoint.co/index.html
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Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Disclosure
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Danger
Contact number
14388068855
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Broker Information
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Grey Matter Enterprise Ltd
FXPOINT
Saint Vincent and the Grenadines
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
| Benchmark | -- |
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| Maximum Leverage | -- |
| Minimum Deposit | $250K –$500K |
| Minimum Spread | -- |
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| Currency | -- |
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| Minimum Position | -- |
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| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
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| Maximum Leverage | -- |
| Minimum Deposit | $100K –$250K |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
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| Maximum Leverage | -- |
| Minimum Deposit | $50K |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
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| Maximum Leverage | -- |
| Minimum Deposit | $10K - $25K |
| Minimum Spread | -- |
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| Minimum Position | -- |
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| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
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| Maximum Leverage | -- |
| Minimum Deposit | $3K –$5K |
| Minimum Spread | -- |
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| Depositing Method | -- |
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| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
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- Underlying Risk
Capital
$(USD)
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FXPOINT · Company Summary
Note: FXPOINT is to operate via the website - https://www.fxpoint.co/index.html, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
| Feature | Detail |
| Regulation | No Regulation |
| Market Instrument | forex currency pairs |
| Account Type | Explorer, Basic, Silver, Gold and Platinum |
| Demo Account | N/A |
| Maximum Leverage | N/A |
| Spread (EUR/USD) | 0.2 pips |
| Commission | N/A |
| Trading Platform | Webtrader |
| Minimum Deposit | $3,000 |
| Deposit & Withdrawal Method | Wire Transfers, iDeal and Cashier |
FXPOINT, a trading name of Grey Matter Enterprise Ltd, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with floating spreads from 0.2 pips on a Webtrader platform via five different live account types.
As for regulation, it has been verified that FXPOINT currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.26/10. Please be aware of the risk.
Market Instruments
FXPOINT advertises that it is a forex broker that mainly offers forex currency pairs trading. However, more specific information about tradable assets cannot be found on the Internet.
Account Types
FXPOINT claims to offer five types of trading accounts - Explorer, Basic, Silver, Gold and Platinum, with minimum initial deposit requirements of $3k, $10k, $50k, $100k and $250k respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Spreads
The EUR/USD spread delivered by the Webtrader at FXPOINT is 0.2 pips.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, FXPOINT gives traders a Webtrader. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
The funding methods with FXPOINT are Wire Transfers, iDeal and Cashier. The minimum initial deposit requirement is extremely high - up to $3,000.
Customer Support
FXPOINTs customer support can be reached by telephone: 14388068855, email: support@fxpoint.co. Company address: Suite 305, Griffith Corporate Centre, Kingstown, St.
Pros & Cons
| Pros | Cons |
| • Multiple account types to choose from | • No regulation |
| • Website inaccessible | |
| • Extremely high minimum deposit ($3,000) |
Frequently Asked Questions (FAQs)
| Q 1: | Is FXPOINT regulated？ |
| A 1: | No. It has been verified that FXPOINT currently has no valid regulation. |
| Q 2: | Does FXPOINT offer the industry-standard MT4 & MT5？ |
| A 2: | No. Instead, FXPOINT offers a Webtrader. |
| Q 3: | What is the minimum deposit for FXPOINT？ |
| A 3: | The minimum initial deposit to open an Explorer account is $3k, while $10k for the Basic, $50k for the Silver, $100k for the Gold and $250k for the Platinum. |
| Q 4: | Does FXPOINT charge a fee？ |
| A 4: | Like every forex broker, FXPOINT charges a spread fee. While the information on other fees like commissions, deposit & withdrawal processing fees are missing. |
| Q 5: | Is FXPOINT a good broker for beginners？ |
| A 5: | No. FXPOINT is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and extremely high initial deposit. |
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